NEW YORK, Oct. 4 /PRNewswire/ -- Telsey Advisory Group(TM) (TAG), an independent research firm founded by Dana Telsey, one of Wall Street's leading retail analysts to provide in-depth coverage of the retail industry, today announced it has increased its price targets on two of its 38 retail companies under coverage. TAG raised its Abercrombie & Fitch (ANF) 12-month price target 14% to $81- $83. Dana Telsey, TAG's Chief Research Officer, pointed to the store's impressive full-price back-to-school performance as a bellwether to sustaining its leadership position in the Gen Y space. "The company looks like it's building on last year's denim rush with a continuous new product flow this fall," she said. "They've kept inventories lean and we've noted a lot of buzz and excitement in our store visits-not only at Abercrombie but at Hollister and Ruehl as well. We've been viewing ANF as a core specialty holding for some time now, and based on what they're reporting and what we've been seeing, we believe there's still more upside to come." TAG also raised Kohl's (KSS) price target 10% to $77-$79 as it increases its moderate market share. "KSS looks like it's firing on all cylinders right now," noted TAG's Chief Research Officer Dana Telsey. "Their same store sales were up 16% for the month, with every one of their regions reporting a double-digit increase. They're on track with a very ambitious expansion program, and the nationwide grand opening of 65 stores on Thursday, October 5 demonstrates an intensified marketing focus. All of these factors, along with their exclusive merchandising programs which have come on quite strong over the past year, give us confidence in revising our 12-month price target. ABOUT TELSEY ADVISORY GROUP Telsey Advisory Group, ("TAG") is an independent research firm, founded by Dana Telsey, a 13-year ranked, seven-time #1 ranked analyst by Institutional Investor. Ms. Telsey is widely recognized as Wall Street's leading retail industry expert by the investment community, senior executives, consultants, advisors to the industry, and the media. TAG is in the unique position of having the scale of a large research department along with the objectivity of an independent, as the firm provides no investment banking or trading services. TAG delivers the best of both worlds to buy-side investment firms that rely on quality research and counsel. Telsey Advisory Group is headquartered at 535 Fifth Avenue, 12th Floor, New York, NY 10017. Phone: 212-973-9700. URL: http://www.telseygroup.com/ Ms. Telsey has followed over 70 companies during her 21-year career and was the only U.S. based analyst to provide complete analysis of the European luxury goods sector. From 1994 to 2006, Ms. Telsey was at Bear, Stearns & Co. Inc. covering the retail sector, most recently as a Senior Managing Director. Prior to Bear Stearns, Ms. Telsey was the Retail Analyst at C.J. Lawrence and Vice President of the Baron Asset Fund at Baron Capital, Inc. She has appeared as a guest analyst on television shows such as Wall Street Week, ABC News, The NBC Evening News and The Today Show as well as regular guest appearances on CNN and CNBC. Ms. Telsey is a regular contributor to Luxury Briefing, the leading luxury goods industry publication, and WGSN (Worth Global Style Network), an online research, trend analysis and news service for the fashion and style industries. CONTACT: David Zweifler/Danny Charles G.S. Schwartz & Co. 470 Park Avenue South, 10th Floor New York, NY 10016 Office: 212-725-4500 Fax: 212-725-9188 DATASOURCE: Telsey Advisory Group CONTACT: David Zweifler, , or Danny Charles, both of G.S. Schwartz & Co., +1-212-725-4500, Fax: +1-212-725-9188 Web site: http://www.telseygroup.com/

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